31 Jul, 2024

Luang Prabang Named Southeast Asia's Top Destinations for 2024

Lonely Planet, the renowned UK-based travel guide website, has named Luang Prabang as one of the seven best places to visit in Southeast Asia for 2024.

In their publication on 10 July, the website highlighted Luang Prabang’s rich Buddhist culture, historic temples, and unique spiritual sites as key attractions.

The travel publication described Luang Prabang as “an important site for Buddhist culture,” emphasizing the city’s commitment to preserving its ancient temples and spiritual heritage.

Beyond its rich traditional heritage, travelers also praise Luang Prabang for its laid-back atmosphere, featuring quaint alleyways, lively festivals, and natural beauty.

One of the unique experiences in Luang Prabang is the daily almsgiving ceremony, a centuries-old ritual where monks collect alms from locals and visitors.

This practice, typically beginning around 5:30 am, involves people lining the streets with baskets of food, which they offer to the monks in exchange for blessings and good wishes.

Lonely Planet also recommends visiting Wat Xieng Thong, one of the most spiritually significant temples in Laos. Dating back to 1560, the temple is renowned for its large mosaics and Tripitaka Library, a small chapel behind the main building. Additionally, Phou Sii (Sacred Mountain) offers visitors a collection of temples and shrines with a view over the World Heritage city.

For nature enthusiasts, Kuang Si Waterfalls are a must-see, described by Lonely Planet as “one of Southeast Asia’s dreamiest waterfalls.”

Adventurous tourists can also explore Nong Khiaw, a northern village known for its dramatic limestone cliffs and outdoor activities. Accessible by bus, the journey to Nong Khiaw takes about four hours, depending on road and weather conditions.

Luang Prabang has seen a surge in tourism, with the Lao New Year festivities from 10-19 April, attracting 110,000 visitors, including over 41,500 foreign tourists—a 364.44 percent increase from the previous year.

As part of Visit Lao Year 2024, the city aims to attract more than 1.7 million visitors and generate around USD 900 million in revenue by year’s end.

02 Aug, 2024

Hong Kong's Futu Securities Launches Bitcoin and Ethereum Trading

In recent developments, Futu Securities International, Hong Kong's largest online broker, has launched retail cryptocurrency trading for Bitcoin and Ethereum. As of August 1, residents in Hong Kong can trade these top cryptocurrencies directly through Futu’s platform, in both Hong Kong and US dollars. This move is a significant step for Futu, following its recent acquisition of an upgraded securities license from the Securities and Futures Commission (SFC) in Hong Kong, allowing it to offer virtual asset services to both professional and retail investors.The Backdrop and Incentives InvolvedThis launch is part of Hong Kong's broader strategy to position itself as a favorable environment for cryptocurrency enterprises. Futu has introduced several incentives to attract new traders. New investors who open accounts and maintain a balance of HK$10,000 over two months can earn Bitcoin credits or a share of Alibaba Group Holding. For larger deposits, rewards include shares in Nvidia. Additionally, Futu has initiated a commission-free period for cryptocurrency transactions, increasing its appeal.Futu's collaboration with HashKey Exchange, a fully licensed cryptocurrency exchange in Hong Kong, ensures compliance with SFC regulations. This partnership guarantees that all transactions are secure and regulated, providing users with a safe avenue for digital asset trading.Futu's Strategic Move and Its ImplicationsFutu's entry into the crypto market marks a significant shift, reflecting a growing recognition of the importance of integrating digital assets into the mainstream financial system. By legalizing retail crypto trading, Futu is set to expand its offerings, enhancing its competitive edge in the financial sector.As Hong Kong aims to become a crypto hub, other financial institutions are also embracing digital assets. Recently, ZA Bank, the largest virtual bank in Hong Kong, announced exclusive reserve bank services for crypto stablecoin issuers. These developments underscore Hong Kong’s commitment to fostering a robust crypto ecosystem.Expanding Beyond Mainland ChinaFutu's interest in offering crypto trading services outside mainland China began in May 2021. The company applied for licenses to expand its services to Hong Kong, Singapore, and the United States.Futu's successful acquisition of an operational license from the SFC makes it the first online securities brokerage firm to offer direct crypto trading services in Hong Kong through its platform, the Futu Niu Niu app. This service is available to both institutional and retail investors, allowing them to purchase as little as $10 worth of Bitcoin and Ethereum.Additional Offerings and IncentivesBesides crypto trading, Futu is also licensed to offer Bitcoin and Ethereum exchange-traded funds (ETFs) to certified institutions. These institutions can trade Bitcoin and Ethereum futures ETFs and related securities with zero commission. To attract users, Futu has launched an incentive program for early adopters, rewarding participants with tech stocks from companies like Alibaba Group Holding and Nvidia. Additionally, users can claim up to HKD 800 worth of Bitcoin.

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29 Jul, 2024

South Korea Invests USD 1 Million in Mekong River's Future

The Mekong River Commission (MRC) has officially announced the Republic of Korea (ROK) as its newest Development Partner. In a move towards enhancing regional cooperation, the ROK has committed a USD 1 million grant for the year 2024, with prospects for continued contributions in the future. This funding is earmarked to support the implementation of the Basin Development Strategy 2021-2030 and the MRC Strategic Plan 2021-2025, both crucial for the sustainable management of the Mekong River Basin.The official signing ceremony took place on 25 July at the MRC headquarters in Vientiane, Laos. The event was marked by the signing of the grant note by Kim Dong-bae, Director-General of the ASEAN and Southeast Asia Affairs Bureau at Korea’s Ministry of Foreign Affairs, and MRC Secretariat CEO Anoulak Kittikhoun. The Korean delegation was represented by Kim Dong-bae and the Korean Ambassador to Laos, Jung Yung Soo.During the ceremony, Kim Dong-bae highlighted the importance of this partnership in promoting sustainable development and fostering regional cooperation within the Mekong River Basin. He emphasized that Korea’s involvement aligns with the strategic objectives of the MRC, aiming to balance economic growth, environmental protection, and social development in the region.“As a friend of the Mekong countries and a member of our region, it is high-time for the Republic of Korea to join the premier regional body for Mekong river basin management as a Development Partner. This will add a strategic approach to cooperation and build on past and ongoing collaborations between the MRC and various Korean agencies,” said Anoulak Kittikhoun, CEO of the Mekong River Commission Secretariat.The partnership comes at a crucial time as the region faces challenges such as sustainable development, climate change, and water security. By adopting a collaborative approach, the MRC seeks to bolster its efforts in promoting regional cooperation and ensuring the sustainable management of the Mekong River Basin’s resources. This collaboration aims to enhance the prosperity, peace, and resilience of the Mekong region’s communities.As a Development Partner, the ROK joins a diverse group of countries that contribute financial resources to the MRC’s mission. This support is vital for the sustainable management and development of the Mekong River Basin, ensuring long-term benefits for the region’s inhabitants and environment.

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